| Ticker: FAXX | 399 Thornall Street | |
| Exchange: NASDAQ-National Market | Edison, New Jersey 08837 | |
| Industry: Service | (908) 906-2000 |
| Type of Shares: | Common Shares | Filing Date: | 8/6/96 | |
| U.S. Shares: | 1,500,000 | Offer Date: | 10/11/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $10.00 - $12.00 | |
| Primary Shares: | 1,500,000 | Offer Price: | $8.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.56 | |
| Offering Amount: | $16,500,000 | Selling: | $0.30 | |
| Expenses: | $1,000,000 | Reallowance: | $0.10 | |
| Shares Out After: | 9,670,490 |
| Manager | Tier | Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 640-6129 |
| Alex. Brown & Sons Incorporated | Co-manager | (410) 727-1700 |
| Auditor: Coopers & Lybrand | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $11.65 | $7.45 | $5.02 | Assets: | $7.92 |
| Net Income: | -$4.09 | -$3.43 | -$1.89 | Liabilities: | $4.86 |
| EPS: | -$7.46 | -$6.17 | -$3.44 | Equity: | $3.06 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| FaxSav Incorporated designs, develops and markets a variety of business-to-business facsimile transmission services, including fax-to-fax, desktop-to-fax, enhanced fax and broadcast fax services. FaxSav's services are designed to reduce the cost of sending an international fax while making the process of sending an international fax easier and less time0consuming. Through the use of its integrated Internet-based and telephone-based network and its proprietary software, the company enables its customers to send documents and images to fax machines worldwide at rates substantially below the international rates charged by traditional long distance carriers. Customers are offered Internet advantaged pricing for facsimile transmissions to targeted markets worldwide while continuing to use their traditional fax machines. In addition, the company has developed easy to use software enabling customers to transmit documents directly from their computer desktops. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for expansion of Internet network infrastructure, repayment of existing short-term indebtedness and for general corporate purposes, including working capital. The company may use a portion of the net proceeds to acquire businesses, services, products or technologies complementary to the company's current business. |
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